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HONG KONG: USD/HKD trades a low as HKD7.8283 on the back of a BBG source report
suggesting that AB InBev will target a $5bn raising in the IPO of its Asia-Pac
unit. This adds to the RTRS report that we flagged earlier.
- Bears now eye the May 5 low at HKD7.8256.
- N.B. The BBG source story has noted that the company is in the process of
gauging investor demand at present. We should point out that there are no
firm/touted dates in place and would suggest that the company will be very
reluctant to provide anything firm unless it is very sure re: take up after the